Mobile homes are a great bargain, but they come with specific risks of ownership that are different from a traditional home. Mobile home insurance will specifically cover the risk that can occur with mobile homes due to their unique design. Barron Mutual Insurance Company in Wisconsin is here to answer all your questions about this important coverage.

What You Need to Know About Mobile Home Insurance

1. What Does Mobile Home Insurance Cover?

This insurance has three coverages: liability, property damage, and personal property. Liability coverage is if someone gets injured on your property or you cause damage to someone’s property. Property damage will cover significant loss to your property or repairs. Personal property covers your belongings in case of disaster, burglary, or theft. 

2. How Much Do You Need?

Typical insurance amounts start at $30,000, but you want to ensure you are getting enough coverage for the value of your home and possessions. Consider how much you will need to rebuild if disaster strikes, and make sure you have enough coverage to protect finances in the event of a large claim. Ask an insurance agent to get the right coverage for your personal situation.

3. Is It Required?

Coverage requirements vary by state and possibly by lender, if you have taken out a loan to pay for your mobile home. Even if it’s not a legal requirement, mobile home insurance is a good idea, since it covers one of the biggest investments you own.

4. Is It Tax Deductible?

Insurance premiums are usually not tax deductible unless you use your mobile home for business or commercial purposes. 

To learn more about getting the right mobile home insurance policy for your property, call Barron Mutual Insurance Company in Wisconsin at (715) 537-5141. You can also see their website to learn more about all of their insurance offerings to protect your most valuable assets.